UPDATE 1-Brazil's CSN's net profit drops in Q2 as costs bite and mining prices fall
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SAO PAULO, Aug 2 (Reuters) - Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said on Wednesday its second-quarter net profit fell 23% from a year earlier to reach 283 million reais ($58.81 million), hit by lower mining product prices and higher costs.
The company's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 31% to 2.26 billion reais.
The decline in EBITDA "is a direct consequence of the deterioration in the mining segment," the company said in a statement.
It added that the increase in costs of raw materials in steel and cement production "also contributed to the reduction of margins in the quarter." ($1 = 4.8118 reais) (Reporting by Carolina Pulice and Peter Frontini; Editing by Brendan O'Boyle)
